Sam Zell was doing the same shit in the '00s (and still is) and even in the same area https://www.chicagotribune.com/news/ct-xpm-2007-05-27-0705260052-story.html this one ended up with my grandmother losing her retirement plans she financing.
There's always scams and they often target those most vulnerable who can't fight back. You'd think there should be some protections or safety nets but gods of capitalism require blood sacrifices
"They trust me — dumb fucks," says Zuckerberg
Always good to keep in mind